For some reasons after playing with disk partitions Windows 7 thinks System partition label was changed (for example from C: to V:).
As a consequence Windows now thinks that your installation is not licensed...
And here's a very simple solution that saved my day.
Found here: http://social.technet.microsoft.com/Forums/en/w7itproinstall/thread/48c99917-9ee3-4fe5-9ea8-2ac44b365e93
- Hit control-shift-esc to get the task manager and ran regedit
- Navigated to HKEY_LOCAL_MACHINE\SYSTEM\MountedDevices, backed up and removed the data inside
- Reboot
upon reboot, the system will checked the key again and validate the license.